Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
AT held that the respondent (sole proprietor/distributor) contravened section 171, CGST Act by failing to pass on the benefit of a GST rate reduction on cosmetic products. The statutory presumption in favour of the investigating authority was not rebutted for lack of cogent, unambiguous evidence, notwithstanding contractual provisions allocating pricing discretion between the distributor and manufacturer. Consequently the respondent is directed to remit Rs. 3,31,879 with interest at 18% p.a. calculated from the date of collection of the excess (1.4.2018-31.12.2018) to the Central/State consumer welfare fund under section 57 within three months, failing which recovery shall be effected by the jurisdictional CGST/SGST Commissioner.
AT held that the respondent (sole proprietor/distributor) contravened section 171, CGST Act by failing to pass on the benefit of a GST rate reduction on cosmetic products. The statutory presumption in favour of the investigating authority was not rebutted for lack of cogent, unambiguous evidence, notwithstanding contractual provisions allocating pricing discretion between the distributor and manufacturer. Consequently the respondent is directed to remit Rs. 3,31,879 with interest at 18% p.a. calculated from the date of collection of the excess (1.4.2018-31.12.2018) to the Central/State consumer welfare fund under section 57 within three months, failing which recovery shall be effected by the jurisdictional CGST/SGST Commissioner.
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